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Hdr-Banking

Banking & Finance

Helping girls earn and manage money is an integral part of the Girl Scout Leadership Experience. Your troop is responsible for planning and financing its own activities. This gives girls the opportunity to be in charge, and with your supervision and guidance, to cooperatively set goals, manage budget, spend responsibly and maintain records. Girls will gain effective marketing skills, business ethics, math and financial skills.

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General Girl Scout Banking Information

Banking Best Practices

Girl Scouts of NE Kansas & NW Missouri believes helping girls earn and manage money is an integral part of the Girl Scout Leadership Experience (GSLE). Your Girl Scout troop is responsible for planning and financing its own activities. This gives girls the opportunity to be in charge, and with your supervision and guidance, to cooperatively set goals, manage budget, spend responsibly and maintain records. They will also gain effective marketing skills, business ethic, math and financial skills. Regularly share the troop’s account activities publicly at troop meetings.

Adults are to guide the girls and coach them on how to spend their earnings in responsible ways to support their Girl Scout program.

  • Keep all receipts from all GS transactions for a recommended minimum of 3 years.
  • Ensure troop funds are used by the troop.
  • Balance your checkbook each month by comparing receipts with the bank statement.
  • Use your Girl Scout checks or debit card for all troop spending.
  • Be sure all troop money goes through the troop bank account.
  • Include girls on all financial decisions – It’s part of the GSLE!
  • Complete the Troop Finance Report.
  • Deposit all money. Do not hold on to parent and customer checks or other forms of payment for more than a week

Questions? Email us

Troop Finance

Requirement: Troop leaders and service unit (SU) account holders are required to and are responsible for reporting all troop/SU account activities at the end of every Girl Scout year.

Troops should use the Finances tab in the Volunteer Tool Kit. SUs should complete the online Service Unit Finance Report. The report is due June 1.

A copy of the troop/SU bank statement that includes the account balance on May 31 should be emailed to statement@gsksmo.org

Disbanding Troop or Girl Transfer Information

Troop Funds- Disbanding Troop

Prior to disbanding, the group may decide to participate in an activity or event that the girls choose. They may also decide to donate any unused funds to their Service Unit or to another Girl Scout troop for girl activities. Abandoned Girl Scout monies left in bank accounts becomes the property of the Girl Scouts of Northeast Kansas and Northwest Missouri council to be used to support continued members of the Girl Scout program.

Girls transferring to another troop

When a girl transfers to another Girl Scout troop, troop funds should also be transferred to the receiving troop. The amount that is transferred is based on the amount of money in the troop account and the number of girls in the troop. The amount is not, by any means determined by how much a girl raised in money earning programs. The whole amount that is in the account should be divided by the number of girls in the troop. This number is the amount that should be sent to the receiving troop. The monies should be transferred via a check sent to the receiving troop leader made out to the receiving troop.

Example: Erica is moving to a different town and will be joining a new troop. Her current troop account has $300.00 balance. Her current troop has 12 girl members. (300/12= 25) A check for $25.00 should be sent to her receiving troop.  **At no time should money from a disbanding troop be given to a girl or parent for personal use.

As when closing a personal account, be sure all checks and other debits have cleared the account before you close it, and realize that you may have to close the account in person. Turn remaining funds over to your membership manager.

 


Determining Banking Method
 

stopsign64

Before you can open a Girl Scout bank account, each account signer must:

  1. Join
  2. Pass a council background check
  3. Be a registered Girl Scout member

There are two methods of opening a Girl Scout bank account— the  Bank of America method and the  Non-Bank of America method. Your service unit number determines which method to use.

Bank of America Service Units: 601, 604, 605, 607, 608, 611, 618, 620, 631, 634, 635, 637, 638, 639, 640, 641, 642, 645, 644, 646, 648, 649, 650, 651, 653, 654, 661, 664, 670, 671, 672, 674, 675, 678, 679, 680. 682, 701, 716

Non-Bank of America Service Units: 614, 655, 657, 684, 687, 704, 706, 707, 801, 805, 806, 808, 814, 816


Bank of America Method
 

Process for New Accounts

Opening a new account

  • The troop representative should verify that the requested signers have been registered and background checked.
  • Each account is only allowed ONE Visa debit card known as the Lead Debit Cardholder
  • The Lead Debit Cardholder should start the process by choosing  Open a New Girl Scout account
  • Upon completion of the form the Lead Debit Cardholder will be emailed a confirmation that their request has been received and will be notified once the account is approved and established.
  • Once the request is submitted the Council Banking Manager will review and process the request.
  • The account should be opened within 5-7 business days.
  • An important email confirmation will be sent to the account signer stating pertinent account management information.
  • Bank of America will send 1 Visa debit and 1 ATM deposit card to the Lead Cardholder directly.
  • New troop account information is automatically sent to the troops’ Membership Manager and no account notification is necessary.

Open a New Girl Scout account

Process for Secondary Account Signer

Becoming a Secondary Account Signer Only (ATM deposit card only)

  • The troop representative should verify that the requested signers have been registered and background checked.
  • Each account is required to have a secondary Account Signer
  • To request to be added to the account as a secondary Account Signer Only complete Account Signer Only request
  • Upon completion of the form the Account Signer will be emailed a confirmation that their request has been received and will be notified once their request has been approved.
  • Once the request is submitted the Council Banking Manager will review and process the request.
  • The request should be processed within 5-7 business days.
  • An important email confirmation will be sent to the account signer stating pertinent account management information.
  • Bank of America will send 1 ATM deposit card to the Account Signer directly.

Account Signer Only request

Process for Signer Change/Account Change

Change the Lead Debit Cardholder and change the account

  • The troop representative should verify that the requested signers have been registered and background checked.
  • If the troop is changing the account Lead Debit Cardholder, which also closes the old account and opens a new one they will complete Change Lead Cardholder
  • Upon completion, the request it will be sent to the council Membership Manager for approval to take over the troop’s bank account.
  • The new account should be opened within 7-10 business days.
  • An important email confirmation will be sent to the account signer stating pertinent account information.
  • Bank of America will send 1 Visa debit and 1 ATM deposit card to the new Lead Debit Cardholder account signer directly.
  • New account information is automatically sent to the troops’ Membership Manager and submitting Bank Account Information Card is not necessary.
  • The previous troop account will automatically be closed and remaining funds will be transferred to the new troop account.

Change Lead Cardholder 

Bank of America Forms & Resources/Online Banking
Bank of America Key Points & FAQ’s

Key Points

Important things to know about your new BOA account:

  • Troops will not receive paper checks. Check requests can be submitted.
  • Deposits are made into the council’s umbrella account at an ATM using a deposit card. These deposits will be loaded electronically onto your troops Visa debit card on the next business day.

Don’t: Go into a Bank of America Branch to open a new account
Do: Use the link to start your banking process

Don’t: Go to a Bank of America Branch to remove/change a signer
Do: Use the link to change account signers

Don’t: Go into a Bank of America Branch to close an account
Do: Email the Council Banking Manager troopbanking@gsksmo.org

Don’t: Direct banking questions to Bank of America employees
Do:  Email the Banking Coordinator at troopbanking@gsksmo.org

Don’t: Request a PIN for your ATM deposit card from Bank of America
Do: Know that all ATM deposit card PIN’s are the 4 digit troop or SU number
(If your SU/Troop number is less than 4 numbers you will add ‘0’s the beginning of your SU/Troop or SU number until it is 4 digits long  i.e., Service Unit number 600: The PIN number will be ‘0600’.)  

Don’t: Look for a PIN in the mail for your Visa Debit card
Do: Pick your PIN when you activate your Visa debit card

Don’t: Pass your Visa debit card on to a new Lead account holder
Do: New account holder should complete the process for Changing the Lead Cardholder on our website.

Bank of America Video Library
Contact Information
  • Online Banking- Council Banking Manager – 816-759-3000
  • Report Your Card Lost/Stolen – 1-866-213-8564
  • Fraudulent Activity – 1-866-213-8564
  • ATM  issues- Council Banking Manager 816-759-3000

Non-Bank of America Method

 

Open/Change Account

STEP 1: With your troop/group, the first step is to go to the bank branch where you wish to open a business checking account for your troop. Get the name and email address of the banker to who you spoke with.

STEP 2: Complete the Open New Bank Account form

The GSKSMO Troop Banking Department will assure that the named signers on your form are listed in the GSUSA membership database as the current appointed leaders of the troop/group, and have passed a background check.

Once all volunteer roles and background checks are finalized, the council emails the banker a letter authorizing the troop to open a business checking account using the EIN (Employer Identification Number) of GSKSMO

You will receive a copy of the authorization letter sent to the bank.

STEP 3: With authorization letter in hand, return to your banker and fill out signature cards and get your documentation of your account routing and account number.

STEP 4: Submit your new bank account numbers to the council using the online Bank Account Information form.

* Remember that if you leave the troop or are taking over a troop bank account that is already established you must notify the council. Use the Bank Account Authorization Request online form.

Bank Account Set Up

All bank accounts are titled in the name of Girl Scouts of NE KS & NW MO, troop # _____, service unit # ____, or day camp service unit # ____, with a minimum of THREE authorized, unrelated signatures (one must be a service team member). The elected treasurer in teen troops can be one of the authorized signers. Only one signature is required on each check.

Bank Account Information Form is submitted to your membership manager when the account is established. This form needs to be updated as changes in signatures are made or annually.

Resolution: If your bank asks for a signed resolution, ask them for the Resolution for Lodges, Schools and Other Unincorporated Groups. Complete it using your troop’s meeting day and time as authorization. Include the number of signatures required. Cross out the word “secretary” and write “troop/service unit/day camp leader,” and sign and date the form. Other requests for corporate resolutions should not be completed.

Service charges: Some banks waive or reduce service charges for Girl Scout troops. Check with your bank when opening the account. Your service team should be consulted for names of banks waiving service charges.

Printing troop checks: Print checks with Girl Scouts of NE KS & NW MO on the first line and your troop/service unit # or day camp service unit # on the second line. Do not put a mailing address on the checks. The bank will ask you for a mailing address for their records—supply your home address. Addresses on checks complicate changes in bank account leadership. Some banks ask for additional information. If you need assistance, contact your council membership staff.

Important Forms
Contact Information

Questions? Contact Troop Banking at troopbanking@gsksmo.org or (800) 728-8750